Biographies


Sandra Manzke

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Sandra Manzke, Chairman and Chief Executive Officer, founded MAXAM Capital in April 2005. Prior to that, Sandra was the founder and co-CEO of Tremont Capital Management. She was responsible for the oversight of Tremont's operations and the development of Tremont's business plan. She was also a member of the Investment Advisory Board. Sandra oversaw the creation and sale of Tremont's life insurance products, which were the first to use hedge fund investments.

Prior to the formation of Tremont, Sandra was a principal at Rogers, Casey & Barksdale, Inc., a pension fund consulting firm, from 1976 to 1984. While there, she served as the senior consultant to a number of major corporate/ERISA clients. From 1974 to 1976, she worked as an independent consultant at Bernstein Macauley where she was responsible for reviewing the firm's investment products. She was at Scudder Stevens & Clark from 1969 to 1974, where she established one of their internal measurement systems during her tenure as an Investment Manager.

Sandra has extensive experience in designing and implementing multi-manager, multi-asset class investment programs. She has broad experience in all aspects of pension fund consulting, manager research, performance measurement, and program administration. Out of this expertise, she formed the Minority Equity Trust, a program that focuses on minority and women-owned investment managers. Sandra was instrumental in Tremont becoming the first major consulting firm to focus on hedge fund managers, making its first investment almost twenty years ago. Creative and innovative solutions to financial needs are among her strengths.

Sandra holds a Bachelor of Fine Arts degree from Pratt.

Spottswood Dudley

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Spottswood Dudley is a Managing Director of MAXAM Capital Management. He is also the Chief Compliance Officer for MAXAM. Prior to joining MAXAM Capital, he was the Chairman and CEO of Tremont Life Holdings Ltd. which is a Bermuda holding company owning Tremont International Insurance Ltd. and Tremont Services Ltd.

From 1987 until 2001, Spottswood owned and was President of Dudley & Company, Inc., a consulting and insurance brokerage firm. He practiced law from 1975 to 1978 with Kostelantz, Ritholz and Mulderig. From 1978 to 1982, he was a partner in the Firm of Mulderig and Werner. From 1982 to 1986, he was a partner in the successor firm to Mulderig and Werner, Werner and Dudley.

Spottswood is a graduate of Princeton University and The University of Virginia School of Law. He is a frequent lecturer and contributor to professional journals. He is a member of the Bar in New York, Virginia and the District of Columbia.

Rosemary Gilchrist

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Rosemary Gilchrist joined MAXAM Capital Management LLC in October 2005, as a Managing Director. She is responsible for several of MAXAM’s products, including the initial and ongoing review of the underlying investment managers.

Prior to joining MAXAM, Rosemary spent over eleven years at Tremont Capital Management, where she was most recently Director of Insurance, responsible for the sales and operations of Tremont’s nearly $1 billion of assets in insurance dedicated fund of funds, a position she held for nearly four years. Previously at Tremont, she was Director of Business Development, where she was instrumental in the development of the CSFB/Tremont Hedge Fund Indices, among other products for the firm. Rosemary also served as Director of Client Service at Tremont. Rosemary has extensive experience in the development and management of hedge fund of funds and also served on Tremont’s Technology Steering Committee.

Before joining Tremont in 1994, Rosemary was a Senior Audit Manager at RiverBank America, when she was responsible for conducting audits for the Bank’s corporate, consumer and EDP areas. She also developed the Bank’s procedures for compliance with Federal Regulations including anti-money laundering provisions and the Bank Secrecy Act. Rosemary began her career at Chase Manhattan Bank, NA, as an internal auditor, responsible for audits of the Bank’s corporate loans, letters of credit and broker/dealer operations.

Rosemary has a Bachelor of Science degree in Accounting from Fordham University.

Harvey Goldsmith

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Harvey Goldsmith joined MAXAM Capital Management LLC in January 2006 as a Senior Vice President. He is a senior member of the firm's research team, specializing in fixed income.

Prior to joining MAXAM, Harvey was a member of CT Fixed Income Management, LLC, where he managed the CT Fixed Income Fund of Funds.

Before joining CT Fixed Income in 2003, Harvey worked at Schroder & Co. for twenty years in several capacities, beginning by developing Schroder's government and agency bond trading and sales business. In 1990, he became a Director of the firm and Manager of the Government Bond Department. He was also responsible for determining and implementing trading and hedging strategies in corporate, municipal and high yield fixed income securities.

Harvey began his career at the Federal Farm Credit Banks, where he was Assistant Deputy Fiscal Agent, doing economic research in the debt markets. He ran a 120-member sales syndicate for Farm Credit Debt Securities and managed the short-term discount note program.

Harvey has a Bachelor of Arts degree from Queens College and was a member of the Doctoral Program in Economics at Columbia University, where he was a faculty member in the department of economics.

Suzanne Hammond

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Suzanne Hammond joined MAXAM Capital Management in August 2005 as a Managing Director. As part of the investment management team, Suzanne will participate in all aspects of manager research and will be responsible for the development, structure and administration of all of MAXAM's products.

Prior to joining MAXAM, Suzanne had a long career at Tremont Capital Management, where she was a senior vice president and the Secretary and Treasurer of the Tremont. Suzanne was also a Director of Tremont’s largest subsidiaries, Tremont Partners, Inc. and Tremont (Bermuda) Limited.

She began her career as an investment trader in New York City with the Ford Foundation and then with the Variable Annuity Life Insurance Co. She was later employed by the Corporate Banking Division at Morgan Guaranty Trust Company and the New York Stock Exchange, where she served as the liaison representative, managing listed Mid-western companies. She left NYC to work at Rogers, Casey and Barksdale, a pension-Consulting firm in Stamford, Connecticut. She joined Tremont in 1987.

She holds an associate of arts degree in liberal arts from Colby Sawyer and a bachelor's degree in Russian history from the University of North Carolina at Chapel Hill in 1968. Suzanne is a Trustee of Colby Sawyer College.

David W. Jennings

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David Jennings is a Managing Director and Head of Marketing for MAXAM Capital Management LLC. Prior to joining MAXAM, Mr. Jennings was Chief Administrative Officer for Cobble Creek Management, a single strategy, long/short hedge fund, from 2004 to 2006. From 1999 to 2003, Mr. Jennings was Vice Chairman of investment manager, Cramer Rosenthal McGlynn, where he was a member of the firm's Operating and Strategy Committees along with holding responsibility for sales of Cramer's hedge fund, separate account and mutual fund products. In Mr. Jennings' extensive career, he has held positions as President of Newbolds Asset Management, which was merged into PBHG and Associates (1995-1999); President of Downing Street Associates (a joint venture with Connecticut Mutual Insurance in 1994-1995); Principal and Head of Marketing for Westwood Management Corp., a NY and Dallas based investment firm (1983-1994); Head of sales and marketing for Citibank Investment Management (1980-1983); Cohead of relationship management for Bankers Trust's Investment Management subsidiary, and previously at Bankers, as a portfolio manager responsible for major BTCo institutional clients (1973-1980). David began his investment management career with Scudder Stevens and Clark in 1970 as an assistant portfolio manager. Mr. Jennings is a graduate of Rider University and studied at Baruch School of CUNY, where he completed the course requirements for an MBA in Finance.

Richard A. Phelan

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Richard Phelan is the Chief Financial Officer for MAXAM Capital Management LLC. Prior to joining MAXAM, Mr. Phelan spent sixteen years with Fortune Brands, Inc. (formerly American Brands, Inc.) most recently as Assistant Treasurer, Int’l. His areas of responsibility included the financing of non-US operations as well as identifying and managing the companies’ foreign exchange and interest rate risks. Prior to this, he was instrumental in coordinating the issuance of domestic and overseas bond financings and oversaw the administration and investment of the companies’ qualified and non-qualified benefit trusts.

Mr. Phelan has an MBA in Finance from Fordham University and BBA in Accounting from Iona College.

Joseph Soares

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Joseph Soares joined MAXAM Capital Management LLC in November 2005, as a Managing Director. He is responsible for several of MAXAM's clients as well as a member of the Investment Committee and ongoing review of the underlying investment managers.

Joseph started his career at Tremont in 1992 as a fund analyst and worked his way up through the ranks to be a Senior Vice President and the Director of Client Service. His department consisted of a staff of 15 and was responsible for client reporting, manager monitoring and all portfolio operations. He was on Tremont's New Product Development Committee and instrumental in helping to design Tremont's internal Investment Management System, which monitored and tracked their portfolio holdings. Joseph also spent 18 months managing the Tremont (Bermuda) Limited office, where the main focus was fund administration.

Joseph holds Series 7, 63, 24 and 3 Licenses. He has a Bachelor's degree in Economics from the State University of New York at Albany.

Catherine Sweeney

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Catherine Sweeney joined MAXAM Capital in June 2005 as a Managing Director. She is a member of the Investment Committee and is responsible for the assessment of all emerging, minority and traditional investment management firms.

For the twenty prior years, she worked at Tremont Capital Management, holding various positions since the founding of the firm. At Tremont, she was responsible for all products that utilized minority, emerging or traditional investment managers. For more than ten years, she was the direct investment and client service liaison for the firm's multi-manager product that utilized equity investment management firms that were more than 50% owned by women and minorities. In this capacity she participated in the comprehensive due diligence process on the investment firms, reviewing, selecting, and recommending managers for the product. Also, Cathy supervised performance measurement, program analysis and administration for investment clients. She has extensive experience in performance measurement, portfolio analysis and client reporting. Additionally, she managed the minority and emerging manager databases. She was a director of Tremont Partners, Inc., a registered U.S. investment advisor.

Before joining Tremont in 1984, she worked for six years as a Senior Analyst responsible for account monitoring at Rogers, Casey & Barksdale, Inc. Cathy holds a Bachelor of Arts degree in Mathematics from Marist College.


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